Lincoln Property Co.’s Logistics Fund II has acquired Canyon Road Commerce Center, a first-generation 275,000-square-foot industrial campus in Pierce County, Wash. As part of the acquisition, Lincoln has appointed JLL as the property's exclusive leasing agent, launching a leasing initiative aimed at attracting advanced manufacturing, aerospace, logistics and distribution users across the South Sound.
Canyon Road is the third acquisition for Lincoln Logistics Fund II following its recent cornerstone close. The fund has secured more than $280 million in capital commitments from two longstanding institutional investors, alongside Stone Point Capital and Lincoln employees.
Located at 5103–5223 136th St. East in Puyallup,Wash., the property was acquired from Trammell Crow Co. and an affiliate of CBRE Investment Management.
"The Pacific Northwest continues to demonstrate the long-term fundamentals we seek as investors, including sustained population growth, a high
